The Science Fiction World of Xueba

Sun Yansheng came to find Pang Xuelin, and the talk was naturally about the acquisition of Skober.

As a supplier of video decoding chips, Skoop's overall technical capabilities are still very good.

Skoop was established in 1988, positioning itself as a semiconductor company, more accurately, it should be a semiconductor design company. It is obviously impossible for such a start-up to have an independent new film production capacity, and it can only be controlled by its early investor Texas Instruments. For product OEM.

In the early days of its founding, Skopper's development direction was image decoding chips, and it was not until 1991 that the first video decoding chip was launched.

However, although the technology is very novel, Skopper has not been able to find an accurate application direction for his own products.

Until the appearance of Jiang Wanmeng, through Wanyan VCD, Sun Yansheng found the direction of Scooper.

Who would have thought that a star ring technology would come out halfway, not only completed the patent registration of the whole machine, but even in the field of video decoding chips, it was a generation ahead of Skober.

It can be said that it directly blocked the way Skopper was going to go.

The reason why Sun Yansheng was hesitant to sell Scooper to Pang Xuelin was mainly because he wanted to see how the market performance of Xinghuan CVD was.

If the performance is good, then the Wanyan foundry he and Jiang Wanmeng co-founded will have a bright future, and he can divest Skooper's assets without any scruples, so as to put all his energy on Wanyan Company.

If the performance is not good, then he has to seriously consider whether he should hand over the Scooper he created with painstaking efforts to Pang Xuelin.

As a result, since Xinghuan CVD was launched in mainland China a month ago, it has instantly become a hot spot in the consumer electronics market, and its popularity has far exceeded his expectations.

In the first month of listing, the total sales volume of Xinghuan CVD exceeded 60,000 units, and the total sales exceeded 300 million.

The Luzhou factory that originally belonged to Wanyan has made every effort to expand its production capacity, but the supply is still in short supply.

Every day, dealers from various regions line up to the Luzhou factory to purchase goods from Xinghuan Company.

As a result, Sun Yansheng immediately felt relieved.

We must know that Wanyan Company has signed a long-term OEM order with Xinghuan Technology. If there is no accident, the CVD/DVD series video disc players still have a market prospect of at least ten years. Scooper is much stronger.

Because of this, Sun Yansheng finally made up his mind to transfer Skober to Pang Xuelin.

However, during this trip to Beijing, Sun Yansheng was accompanied by a blond foreigner.

When Pang Xuelin saw the golden retriever beside Sun Yansheng, he couldn't help asking curiously: "Mr. Sun, who is this?"

"Mr. Pang, I forgot to introduce to you. This is Mr. Benson Raphael of Sequoia Capital. When I founded Skoop Company, Sequoia Capital had invested in it. Now I personally hold Skoop 56% of the company's shares, Sequoia Capital holds 32%, and the remaining 12% is jointly held by the company's executives and technical backbone!"

Pang Xuelin smiled: "I see."

The foreigner looked at Pang Xuelin curiously, and said to Sun Yansheng in English: "Mr. Sun, this young man with no hair at all is the founder of Xinghuan Technology? Are you kidding me?"

Sun Yansheng was a little embarrassed. Just as he was about to reply, Pang Xuelin said calmly in English: "Mr. Raphael, Bill Gates dropped out of Harvard University at the age of 20, and when he founded Microsoft, he seemed not much older than me, right?"

Benson Raphael was taken aback when he heard the words, apparently he did not expect that Pang Xuelin could speak English, and his accent was so proficient.

The contemptuous expression on his face suddenly subsided, and he said with some embarrassment: "Mr. Pang, I'm sorry, I'm just curious about your age."

Pang Xuelin nodded and said with a smile: "Then please, let's sit down and talk first."

The three of them sat down in the cafe downstairs of the hotel and each ordered a cup of coffee. Pang Xuelin said with a smile, "Mr. Sun, have you considered the sale of Scooper?"

Sun Yansheng said with a smile: "Basically, I have thought it over clearly. After the shares of Skober are sold, I will focus all my energy on Wan Yan in the future. I also ask Mr. Pang to take care of the business in the future."

Pang Xuelin smiled and said, "It's only natural!"

Then, Sun Yansheng began to introduce to Pang Xuelin the relevant patents and assets of Skooper in the United States.

At present, Scooper has more than 500 employees in North America, two-thirds of whom are R\u0026D personnel.

In addition to video decoding chips, the main products have also developed some chips used in televisions, printers, game consoles and other fields, but none of them are particularly successful, and they can only barely maintain the company's operations.

Although the money earned every year is not much, at least there is no loss.

For Pang Xuelin, this is equivalent to high-quality assets.

As long as Scooper is acquired, Halo Technology will have a bridgehead in Europe and America.

In the future, it might not be possible to sell CVD/DVD to North America, Europe and other places.

However, the acquisition of such a large company is far from just a negotiation between Pang Xuelin and Sun Yansheng. Sun Yansheng came to Beijing this time to confirm the approximate price with Pang Xuelin and initial the purchase agreement.

The exact timing of the acquisition will have to wait for Pang Xuelin to go to North America to have a look, and then the legal teams of both parties will conduct a statistical inventory of various assets before the official acquisition can take place.

After the two of them confirmed the acquisition intention of US$50 million, Pang Xuelin turned his attention to Rafael and said, "Mr. Raphael, are you also planning to sell Sequoia Capital's shares in Skopel when you come here this time?"

Raphael quickly shook his head and said, "No, no, Mr. Pang, I am here this time mainly for Halo Technology!"

"For Halo Technology?"

A faint smile appeared on Pang Xuelin's face, and he didn't feel any surprise in his heart.

Sequoia Capital was founded by Don Valentine in Menlo Park, California in 1972. This big man is considered a veteran of the semiconductor industry. Since the mid-1950s, he has successively worked for Raytheon and Fairchild Semiconductor. company, National Semiconductor Corporation.

After the establishment of Sequoia Capital, he has successively participated in investing in well-known American technology companies such as Apple, Cisco, Google, Yahoo, Oracle, and LSI, among which the most successful one is Cisco.

The two founders of Cisco Systems, Sandy Lerner and Lin Bosack, were both students at Stanford University.

Lin is from the Department of Computer Science, while Sandy is from the Department of Marketing.

After graduation, the couple were in charge of the computer systems of the computer department and the marketing department respectively.

At that time, in order to solve the problem that the computer networks between the two departments could not be interconnected, they decided to make something that could connect them. This is the prototype of the current router.

Lin and Sandy started their company in 1984.

At that time, they wanted to call the company "Huawei", but found that it had been registered, so they called it simply.

Gradually with the development of the company, Cisco needs the injection of venture capital to expand its scale.

They talked to 74 venture capital firms, but none of them were willing to invest in them. They simply thought they had no chance.

At this time, Don Valentine, who had invested in Apple, 3 and other companies, appeared, spent 2.4 million US dollars to obtain 30% of Cisco's shares, and had the right to manage personnel.

One of the first things Don did was find a senior CEO for Cisco.

He found John Morgridge at last.

This is another important person who also created the Cisco miracle.

Morici joined Cisco in 1988 as CEO and President.

During his tenure as CEO, he transformed a company with annual revenue of only $5 million into a $1 billion giant (1995), from a small company with only 34 people to a large company with 2,260 people.

On February 14, 1990, Cisco was successfully listed, with annual sales of 70 million US dollars and a market value of 600 million.

By 1999, Cisco's annual sales exceeded 12.1 billion, and its market value broke through a record 500 billion U.S. dollars!

It is precisely because of the great success in investing in Cisco that Sequoia Capital has become famous.

After entering China, Sequoia Capital China Fund also successively invested in Chinese Internet companies such as JD.com, Alibaba, Ant Financial, JD Finance, Toutiao, Mobike, Ele.me, and Didi Chuxing. The capital market is famous.

Pang Xuelin did not expect that Sequoia Capital would set its sights on the Chinese market so early.

Pang Xuelin pondered for a moment, looked at Benson Raphael and said with a smile: "Mr. Rafael, are you interested in Halo Technology?"

Benson Raphael nodded with a smile, and said: "Only two months ago, Mr. Sun told me that he was going to sell Skoop. Success, but the company’s performance has been very stable, so I asked him why. Sun told me that he met a young genius in China, and the star ring technology he created completed a $50 million investment in Xiangjiang in just half a year. sales, and there is a broader mainland market waiting for him to develop... I originally thought that such a genius, even if he was younger than Sun, would have to be in his thirties anyway. I didn't expect you to be so young and capable. Why, Mr. Pang, to be honest, we at Sequoia Capital are very optimistic about the development of your company, do you know if your company is willing to accept our investment?"

Pang Xuelin shook his head with a smile, and said, "Mr. Raphael, Mr. Sun should have told you about the hot sales of our products. Now we are not short of cash flow."

Rafael smiled slightly and said: "Mr. Pang, don't refuse in a hurry. I heard from Sun that you plan to sell CVD players all over the world. It is indeed a genius invention, but it is difficult to open up markets abroad. It's not as easy as you think, but with the help of our Sequoia Capital, I believe it will definitely save you a lot of effort."

Pang Xuelin blinked and said, "I didn't refuse, I think we can change the way of cooperation."

"Another way of cooperation?"

Raphael looked at Pang Xuelin puzzled, and asked with some doubts: "What way?"

Pang Xuelin said with a smile: "Mr. Rafael, I heard that your Sequoia Capital holds a lot of Cisco shares. We may consider a stock exchange."

"Stock replacement? How to replace it?"

"A ratio of 1:1, 1% of Cisco shares, 1% of Transwarp shares!"

"NO! NO! NO!"

Raphael subconsciously chose to refuse, and said: "Mr. Pang, do you know how much Cisco's market value is now? Now it has exceeded 10 billion U.S. dollars, and there is still room for growth. Don't you think your Transwarp Technology The same market value of 10 billion U.S. dollars?"

Pang Xuelin said with a smile: "Mr. Raphael, I remember that not long ago, Cisco just released last year's annual report, and its sales exceeded 300 million US dollars. How much are your sales this month?"

"How many?"

"300 million! There is no problem with annual sales exceeding 3 billion, and there is even a chance to hit 4 billion, 5 billion!"

Raphael glanced at Sun Yansheng who was at the side.

Sun Yansheng nodded and said, "Boss Pang is right. In the past month, the Luzhou factory alone has shipped 30,000 units of Xinghuan CVD."

Rafael's eyes narrowed slightly, and he said with a smile: "Mr. Pang, you must know that Cisco is an American company. The future of the Internet is in the United States. Even if Cisco's market value does not increase tenfold in the future, it will increase by three to five times." It's still possible!"

Pang Xuelin didn't change his face, and smiled: "Mr. Raphael, China is now a developing country, and there is still a big gap from developed countries. The Transwarp CVD can sell so much in China. Can you imagine the market share in the United States? How big is it? How much can it reach in the European market? To some extent, Transwarp’s potential is even higher than Cisco’s!”

Raphael fell silent, as if he was moved by Pang Xuelin.

After a while, he said: "Mr. Pang, I can't answer you directly on this matter. I need to discuss it with the boss."

Pang Xuelin smiled and said, "Okay, don't worry about this!"

Then, the three of them sat and chatted for a while, and then Rafael dragged Sun Yansheng away in a hurry.

Looking at the backs of the two going away, Pang Xuelin smiled slightly.

Although CVD products are huge profits, they have matured China's DVD player market in advance through CCTV advertisements, media promotion and packaging, and other means. The direct consequence of this is that the potential of the entire DVD player market has been greatly overdrawn.

According to Pang Xuelin's estimation, the sales volume of Xinghuan Technology in the mainland this year has exceeded three billion yuan, and the number of people who can spend five to six thousand yuan on such a DVD player is quite limited in this era.

In the next few years, the price of DVD players will gradually drop, and the profits will gradually decrease. Even if Xinghuan successfully develops overseas markets, in the next five to ten years, Pang Xuelin can develop the market value of Xinghuan Technology to 50 billion U.S. dollars That's the best.

As for Cisco, in another five years, its market value will rise from the current 10 billion US dollars to 500 billion US dollars. At its peak in 2001, it exceeded 550 billion, surpassing Microsoft and becoming the company with the highest market value in the world.

If it is really possible to exchange Transwarp shares with Cisco shares, then Pang Xuelin will make a lot of money.

Of course, according to Pang Xuelin's plan, Transwarp Technology will only engage in CVD/DVD products at most. In the future, Transwarp Semiconductor, Transwarp Energy, Transwarp Auto, Transwarp Aerospace and other enterprises will not be half as good as Transwarp Technology. Dime related.

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